SH Development
Annual accounts 2025
micro format, filed on 29-07-2026, 2 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €120,000. Estimated: probably between €90,000 and €150,000.
Balance sheet
balance sheet total €104,211 on 31-12-2025in euro
in euro
Position in the sector
74.0%
Higher than 70% of 39,368 companies in 2025.
2.85
Higher than 61% of 38,051 companies in 2025.
39.6%
Higher than 80% of 38,523 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
104,211 | 56,709 | 34,845 | |
21/28 |
26,826 | 30,448 | 20,773 | |
22/27 |
26,826 | 30,448 | 20,773 | |
24 |
248 | 606 | 964 | |
26 |
26,578 | 29,842 | 19,809 | |
29/58 |
77,384 | 26,261 | 14,072 | |
40/41 |
11,931 | 12,707 | 13,409 | |
40 |
11,931 | 12,707 | 13,409 | |
50/53 |
40,000 | 12,776 | 663 | |
54/58 |
23,450 | 777 | - | |
490/1 |
2,004 | - | - | |
| Balance sheet: equity and liabilities | ||||
10/49 |
104,211 | 56,709 | 34,845 | |
10/15 |
77,098 | 35,875 | 7,140 | |
10/11 |
2,500 | 2,500 | 2,500 | |
14 |
74,598 | 33,375 | 4,640 | |
17/49 |
27,112 | 20,834 | 27,705 | |
42/48 |
27,112 | 20,834 | 27,705 | |
44 |
68 | 161 | 208 | |
440/4 |
68 | 161 | 208 | |
45 |
27,044 | 20,673 | 13,997 | |
450/3 |
24,794 | 18,423 | 11,747 | |
454/9 |
2,250 | 2,250 | 2,250 | |
47/48 |
- | - | 13,500 | |
| Income statement | ||||
9900 |
58,451 | 41,326 | 7,678 | |
630 |
3,622 | 3,089 | 181 | |
640/8 |
854 | 505 | 847 | |
9901 |
53,975 | 37,733 | 6,650 | |
75/76B |
85 | 0 | 0 | |
75 |
85 | 0 | 0 | |
65/66B |
891 | 1,176 | 659 | |
65 |
891 | 1,176 | 659 | |
9903 |
53,169 | 36,558 | 5,991 | |
67/77 |
11,946 | 7,822 | 1,351 | |
9904 |
41,223 | 28,735 | 4,640 | |
9905 |
41,223 | 28,735 | 4,640 | |
| Appropriation of the result | ||||
9906 |
74,598 | 33,375 | 4,640 | |
14P |
33,375 | 4,640 | - | |
| Document | ||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 57,597 | 40,821 | 6,831 | ||
| 44,845 | 31,824 | 4,821 | ||
| 0 | 12,764 | 20,954 | ||
| 22,673 | - | - | ||
| 50,272 | 5,427 | -13,633 | ||
| 74.0% | 63.3% | 20.5% | ||
| 2.85 | 1.26 | 0.51 | ||
| 0.35 | 0.58 | 3.88 | ||
| 53.5% | 80.1% | 65.0% | ||
| 39.6% | 50.7% | 13.3% | ||
| 64.67 | 34.72 | 10.36 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | €12,764 | €20,954 |
| €3,622 | €3,089 | €181 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on SH Development
The operating result for 2025 is 43% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Debt's share of the balance-sheet total falls from 36.7% to 26.0%. Equity and debt are higher.